Revenue during the quarter grew 10.17 percent to $250.69 million from $227.55 million in the previous year period. Gross margin for the quarter expanded 38 basis points over the previous year period to 60.27 percent. Total expenses were 86.14 percent of quarterly revenues, down from 87.01 percent for the same period last year. This has led to an improvement of 87 basis points in operating margin to 13.86 percent.

Operating income for the quarter was $34.75 million, compared with $29.56 million in the previous year period.

Thomas C. Chubb III, chairman and chief executive officer, commented, "We are extremely pleased with our very strong second quarter results which were fueled by another remarkable performance at Lilly Pulitzer. Lilly's beautiful product, supported by a highly effective marketing campaign, clearly struck a chord with our customer. With Lilly's performance and a good contribution from Tommy Bahama, we delivered results that significantly exceeded our expectations. We are enthusiastic about the direction of our business and our plans for the future as we continue to grow and develop these outstanding lifestyle brands."

For fiscal year 2015, Oxford Industries, Inc forecasts revenue to be in the range of $975 million to $990 million.  The company expects diluted earnings per share to be in the range of $3.44 to $3.59.  It expects diluted earnings per share to be in the range of $3.55 to $3.70 on adjusted basis.

For the third-quarter 2015, Oxford Industries, Inc forecasts revenue to be in the range of $200 million to $210 million. The company expects diluted loss per share to be in the range of $0.07 to $0.17. On an adjusted basis, the company expects diluted loss per share to be in the range of $0.05 to $0.15.

Operating cash flow improves
Oxford Industries, Inc has generated cash of $72.73 million from operating activities during the first half, up 21.39 percent or $12.82 million, when compared with the last year period.

Cash flow from investing activities was $17.91 million for the first half as against cash outgo of $19.58 million in the last year period.

The company has spent $82.80 million cash to carry out financing activities during the first six months as against cash outgo of $42.06 million in the last year period.

Cash and cash equivalents stood at $13.66 million as on Aug. 01, 2015, up 112.92 percent or $7.24 million from $6.42 million on Aug. 02, 2014.

Working capital declines
Oxford Industries, Inc has witnessed a decline in the working capital over the last year. It stood at $107.48 million as at Aug. 01, 2015, down 9.42 percent or $11.18 million from $118.65 million on Aug. 02, 2014. Current ratio was at 1.91 as on Aug. 01, 2015, up from 1.90 on Aug. 02, 2014.

Cash conversion cycle (CCC) has decreased to 36 days for the quarter from 91 days for the last year period. Days sales outstanding went down to 10 days for the quarter compared with 27 days for the same period last year.

Days inventory outstanding has decreased to 48 days for the quarter compared with 118 days for the previous year period. At the same time, days payable outstanding went down to 22 days for the quarter from 54 for the same period last year.